Common use of Safekeeping of Securities Clause in Contracts

Safekeeping of Securities. Any Securities which are held by USL for safekeeping may, at USL’s discretion, be registered (if registrable) in the Client’s name or in the name of USL’s nominee; or be deposited, at the Client’s cost, in safe custody in a designated account with USL’s bankers or with any other institution approved by the SFC, which provides facilities for the safe custody of documents. Where securities are not registered in the Client’s name, any dividends or other benefits arising in respect of such securities shall, when received by USL, be credited to the Client’s Account or paid or transferred to the Client, as agreed with USL. Where the Securities form part of a larger holding of identical securities held for USL’s clients, the Client shall be entitled to the same share of the benefits arising on the holding as the Client’s share of the total holding.

Safekeeping of Securities. Any Securities securities which are held by USL NECHK for safekeeping may, at USLNECHK’s discretion, be registered (if registrable) in the Client’s name or in the name of USLNECHK’s nominee; or be deposited, at the Client’s cost, in safe custody in a designated account with USL▇▇▇▇▇’s bankers or with any other institution institutions approved by the SFC, which provides facilities for the safe custody of documents. Where securities are not registered in the Client’s name, any dividends or other benefits arising in respect of such securities shall, when received by USLNECHK, be credited to the Client’s Account or paid or transferred to the Client, as agreed with USLNECHK. Where the Securities securities form part of a larger holding of identical securities held for USLNECHK’s clients, the Client shall be entitled to the same share of the benefits arising on the holding as the Client’s share of the total holding.

Safekeeping of Securities. Any Securities which are held by USL USPL for safekeeping may, at USLUSPL’s discretion, be registered (if registrable) in the Client’s name or in the name of USLUSPL’s nominee; or be deposited, at the Client’s cost, in safe custody in a designated account with USLUSPL’s bankers or with any other institution approved by the SFCMAS, which provides facilities for the safe custody of documents. Where securities are not registered in the Client’s name, any dividends or other benefits arising in respect of such securities shall, when received by USLUSPL, be credited to the Client’s Account or paid or transferred to the Client, as agreed with USLUSPL. Where the Securities form part of a larger holding of identical securities held for USLUSPL’s clients, the Client shall be entitled to the same share of the benefits arising on the holding as the Client’s share of the total holding.